I want to add my findings.
I too wanted the Contract-First tool and didn't find the setting mentioned in the msdn link.
However I found out how to add it to any project type as I wanted my iis-hosted services to use contract first aswell.
What you do is to create a "WCF Service Library" as mentioned above.
Then open the csproj-file for the project in a text editor.
Then copy paste the entries that looks something like this into the other project-file
<FlavorProperties GUID="{3D9AD99F-2412-4246-B90B-4EAA41C64699}">
<WcfProjectProperties>
<AutoStart>True</AutoStart>
</WcfProjectProperties>
</FlavorProperties>
Also you need to change the guid:s in the target project to something like this:
<ProjectTypeGuids>{3D9AD99F-2412-4246-B90B-4EAA41C64699};{349c5851-65df-11da-9384-00065b846f21};{fae04ec0-301f-11d3-bf4b-00c04f79efbc}</ProjectTypeGuids>
The FlavorProperties tag with its guids are from vs2012 update 3 so it may change in the future.
So with this hack you're able to deploy contract first services directly to the iis.
The question however is why it wasn't working like this out of the box in visual studio 2012